Question: Given positive integers $x$ and $y$ such that $\frac{1}{x} + \frac{1}{2y} = \frac{1}{7}$, what is the least possible value of $xy$?
Explanation: Multiplying through by $14xy$, we have $14y + 7x = 2xy$, so $2xy - 7x - 14y = 0$. We then apply Simon's Favorite Factoring Trick by adding $49$ to both sides to get $2xy - 7x - 14y + 49 = 49$. We can then factor this to get $$(x-7)(2y-7) = 49$$Since $49$ factors to $7 \cdot 7$ and $x$ and $y$ must be positive integers, the only possible solutions $(x,y)$ are $(8, 28), (14,7), \text{and } (56,4)$. Out of these, $(14,7)$ yields the least possible value $xy$ of $\boxed{98}$.